Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the...
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Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $77.50 and vouchers for the following cash payments. Maintenance expense Office supplies Transportation expense $ 77.25 79.20 36.25 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment. b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list View journal entry worksheet No Event General Journal A 1 No Transaction Recorded B 2 No Transaction Recorded C 3 Maintenance expense Office supplies expense Transportation expense Debit Credit 77.25 79.20 36.25 Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $77.50 and vouchers for the following cash payments. Maintenance expense Office supplies Transportation expense $ 77.25 79.20 36.25 The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment. b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to 2 decimal places.) View transaction list View journal entry worksheet No Event General Journal A 1 No Transaction Recorded B 2 No Transaction Recorded C 3 Maintenance expense Office supplies expense Transportation expense Debit Credit 77.25 79.20 36.25
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date:
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